Gulf Island Fabrication (NASDAQ:GIFI) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Gulf Island Fabrication (NASDAQ:GIFI) from a buy rating to a hold rating in a report issued on Wednesday.

Gulf Island Fabrication Price Performance

Shares of NASDAQ:GIFI opened at $6.68 on Wednesday. The company has a market capitalization of $109.19 million, a PE ratio of 6.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.50 and a current ratio of 4.61. The stock has a fifty day moving average of $6.78 and a 200-day moving average of $6.42. Gulf Island Fabrication has a one year low of $5.12 and a one year high of $7.93.

Hedge Funds Weigh In On Gulf Island Fabrication

Institutional investors have recently bought and sold shares of the stock. Factorial Partners LLC boosted its holdings in shares of Gulf Island Fabrication by 10.3% in the third quarter. Factorial Partners LLC now owns 219,673 shares of the oil and gas company’s stock worth $1,239,000 after buying an additional 20,437 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Gulf Island Fabrication by 9.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,407 shares of the oil and gas company’s stock valued at $234,000 after acquiring an additional 3,683 shares in the last quarter. De Lisle Partners LLP boosted its stake in Gulf Island Fabrication by 14.2% in the 3rd quarter. De Lisle Partners LLP now owns 241,270 shares of the oil and gas company’s stock worth $1,344,000 after purchasing an additional 30,000 shares during the period. EP Wealth Advisors LLC purchased a new position in Gulf Island Fabrication during the 3rd quarter worth approximately $260,000. Finally, Empowered Funds LLC acquired a new stake in Gulf Island Fabrication during the 4th quarter valued at $180,000. Hedge funds and other institutional investors own 46.40% of the company’s stock.

Gulf Island Fabrication Company Profile

Gulf Island Fabrication, Inc, together with its subsidiaries, operates as a fabricator of steel structures and modules in the United States. It operates through Services, Fabrication, and Shipyard divisions. The company provides maintenance, repair, construction, scaffolding, coatings, welding enclosures, and other specialty services on offshore platforms, inland structures, and industrial facilities; services required to connect production equipment and service modules, and equipment on offshore platforms; project management and commissioning services; hookup services; and civil construction and staffing services to the industrial and energy sectors, as well as undertakes municipal and drainage projects, including pump stations, levee reinforcement, bulkheads, and other public works.